RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2025

RELATED PARTY TRANSACTIONS

Schedule of property management fee


		Three Months ended June 30,							Six Months ended June 30,
		2025			2024				2025			2024

		(in thousands)							(in thousands)

Onsite staff costs, and other misc.		$	4,588		$	4,229			$	9,268		$	8,395
Goldmark Management fees		$	1,702		$	1,505				3,380			2,994
R&M related payroll and payroll related expenses		$	2,490		$	2,330				4,899			4,615
Sterling Management fees		$	25		$	30			$	51		$	60

Schedule of fees incurred and payable to Advisor


		Three Months ended June 30,							Six Months ended June 30,
		2025			2024				2025			2024

		(in thousands)							(in thousands)
Fee:
Advisory		$	1,133		$	997			$	2,257		$	1,940
Acquisition		$	-		$	750			$	-		$	750
Disposition		$	-		$	180			$	-		$	264
Financing		$	18		$	96			$	31		$	96
Development		$	-		$	350			$	-		$	350
Project Management		$	42		$	257			$	423		$	374


		Payable at
		June 30,			December 31,
		2025			2024

		(in thousands)
Fee:
Advisory		$	4		$	5

Schedule of rental income


		Three Months ended June 30,							Six Months ended June 30,
		2025			2024				2025			2024

		(in thousands)							(in thousands)
Rental Income:
Operating lease agreement with our Advisor		$	34		$	34			$	68		$	67
Goldmark Property Management, Inc.		$	70		$	69			$	140		$	138
Bell Bank		$	320		$	287			$	640		$	570